Miles,before you waffle on knowing only half the story, refer to...

Miles,
before you waffle on knowing only half the story, refer to the initial comment (cut & pasted below) from whence we came. You'll notice I have made my position so simple even I can understand it. You'll notice any reference to 'steering' the Reserve Bank, comes from my wonderment as to how he will 'keep rates low' when there, as we all agree, will be upward pressures. Don't say I'm lying when I'm expressing an opinion.

start of thread
"How is he going to keep interest rates down? He's understanding of economics (or lack there of) is clearly displayed here. If per chance he takes over regulation of the reserve bank to do this, and he keeps rates at an unsuitable level economically, he would then have a disastrous affect on the value of the dollar. This in turn would have a huge upward affect on inflation, which could spiral out of control. His main adversary in his attempts to manage inflation in a proper fashion are the unions and obviously labor cost. Interest rates will be going up under both parties but the greater risk with Labour is the problems that unions pose."